No penalty CDs are strictly better than savings accounts. I was able to lock my ... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		Aunche on July 25, 2020 \| parent \| context \| favorite \| on: Banks are slow to increase rates on savings accoun... No penalty CDs are strictly better than savings accounts. I was able to lock my emergency savings into a 1.6% CD the day the Fed announced rates cuts.

formercoder on July 25, 2020 [–]

Why are they strictly better? You remove interest rate risk at the expense of yield. They currently pay less than high interest savings.

Aunche on July 26, 2020 | [–]

Whenever I looked at them last year, they were always slightly higher yield than the online savings accounts. Perhaps it was just a promotional rate.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact